Nomura Holdings Inc. lifted its holdings in Waste Management, Inc. (NYSE:WM) by 157.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,922 shares of the business services provider’s stock after buying an additional 28,698 shares during the quarter. Nomura Holdings Inc.’s holdings in Waste Management were worth $3,441,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of WM. Essex Financial Services Inc. raised its holdings in shares of Waste Management by 1.8% in the first quarter. Essex Financial Services Inc. now owns 5,349 shares of the business services provider’s stock worth $390,000 after buying an additional 93 shares during the period. Argent Trust Co bought a new position in Waste Management in the first quarter worth approximately $203,000. Trexquant Investment LP grew its stake in Waste Management by 5.7% in the first quarter. Trexquant Investment LP now owns 24,100 shares of the business services provider’s stock worth $1,757,000 after purchasing an additional 1,300 shares in the last quarter. Airain ltd bought a new position in Waste Management in the first quarter worth approximately $751,000. Finally, Cutter & CO Brokerage Inc. bought a new position in Waste Management in the first quarter worth approximately $352,000. Hedge funds and other institutional investors own 74.93% of the company’s stock.
In related news, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the transaction, the director now owns 51,470 shares in the company, valued at $3,828,338.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Shares of Waste Management, Inc. (NYSE WM) traded up 0.47% during mid-day trading on Friday, reaching $77.28. The company’s stock had a trading volume of 233,202 shares. Waste Management, Inc. has a one year low of $61.59 and a one year high of $79.28. The stock has a 50 day moving average of $77.40 and a 200-day moving average of $74.51. The stock has a market cap of $34.01 billion, a P/E ratio of 26.47 and a beta of 0.74.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. On average, equities research analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a dividend of $0.425 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.21%. Waste Management’s payout ratio is currently 58.42%.
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Several brokerages recently issued reports on WM. KeyCorp reissued a “buy” rating and issued a $84.00 price objective (up previously from $80.00) on shares of Waste Management in a research note on Friday. Stifel Nicolaus increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. BMO Capital Markets began coverage on Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price objective on the stock. Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Bank of America Corporation dropped their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $78.47.
Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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